Comprehensive Online Business Insurance
Tailored PI, Office, Public and Employers' Liability Insurance.
Are you covered? Read our Essential PI Guide.
Get a Quote and buy online in minutes.

eBay turns UK into a nation of online shopkeepers

The internet could turn the UK into a nation of online shopkeepers, according to figures unveiled yesterday by online auction giant eBay.

It revealed that more than 68,000 cottage industries in the UK depend on the site for at least a quarter of their income, more than in any other country in Europe.

And despite controversy over fraud and the sale of illicit items, the hugely popular website provides a significant chunk of the income of more than 170,000 small businesses across Europe.

On average, each eBay-based business employs nine staff and almost half earn more than three-quarters of their income through the site. From CD shops to a Spanish sculptor who sells exclusively through eBay, the company claimed a growing number of sellers who began trading on the internet as a hobby were quitting their jobs to buy and sell full time.

Read this article online - The Guardian.

Posted February 12, 2006

Free day-to-day business banking, forever! Call Abbey on 0800 085 3099
Set up a limited company online right away with Duport
Essential business insurance cover from Hiscox
Up to 2 Years free banking for start-ups from Barclays – More Info
Get the best insurance deal - Compare Business Insurance
For 2 Years Free Banking, try Alliance and Leicester

Latest articles in Latest News

Still no news from Government on £750 million innovation fund
In April’s Budget the Chancellor announced a £750 million fund for innovation to "stimulate growth in the UK's industries of the future". Some two months on we’re still not closer to any details about what the fund will cover or who can apply for it. [June 30, 2009]

New online accounting system for freelancers and small companies
A new online accounting system has been launched, which enables freelancers, contractors and other small companies to manage their entire accounts, invoicing and expenses online. [June 26, 2009]

Business owners value advice from family members
A new report suggests that small business owners value the opinions of their spouses or partners when it comes to business advice. Although accountants are the most valued source for advice, bankers have fallen down the pecking order. [June 22, 2009]

Small businesses affected by dodgy expenses claims
A leading law firm is urging small business employers to take a tough line on the management of expenses as the MP expenses scandal continues to make the headlines. [June 19, 2009]

More people plan to start up businesses later in life
A new study suggests that 37 is the age when most people feel totally confident about their abilities at work, but fulfilment at work is more likely to be reached at the age of 50. The study also highlights the growth of 'older' entrepreneurs, as more people plan to set up businesses after retirement. [June 16, 2009]

Small business running costs continue to fall
The costs of running a small company fell by 1.4% in the first quarter of 2009 due to deflation, according to the latest edition of the Business Inflation Guide. [June 15, 2009]

Small companies urged to rediscover passion for exporting
The UK's small businesses are being urged to rediscover their passion for exporting during the recession. [June 11, 2009]

How does the car scrappage scheme work?
In the last Budget, the Chancellor announced a new 'car scrappage scheme' to encourage motorists to scrap older vehicles and subsidise the purchase of new ones. How the scheme works. [June 5, 2009]

New online business networking site launched
The BCC has launched a new online business networking site aimed at helping small companies succeed in the current economic climate. [June 5, 2009]

Business confidence has risen for "first time in two years"
The latest UK Business Confidence Monitor indicates that the economic decline may have reached the bottom, with business professionals feeling more optimistic after two years of successive declines in confidence. [May 29, 2009]

Study shows that entrepreneurs are 'born' not 'made'
New research backs up the theory that great entrepreneurs are born, not made. Additionally, the right sort of personality could be more important in long-term success than formal education and the 'right' connections. [May 13, 2009]

Big jump in company director disqualifications
A city law firm has revealed a 31% increase in the number of insolvent companies whose directors have had disqualification proceedings launched against them over the past year. [May 7, 2009]

Small business owners warned to watch out for bogus HMRC tax refund emails
Many Bytestart readers may have noticed an increase in the number of bogus HMRC 'tax refund' emails which may have been received in the past few weeks. Includes top ten tips to help spot such bogus emails, and what to do if you receive one. [May 5, 2009]

Is life insurance an essential or a "nice to have"?
In the most general terms, life insurance premiums have come down over the last decade as the market becomes more competitive, and you may be able to save on your premium by shopping around or switching providers. [May 1, 2009]

Why small companies have trouble securing public sector contracts
Small companies need to spend time on training and development, and need to understand how the public procurement system works if they want to gain a larger share of public sector contracts. [May 1, 2009]

Our Partners

Hiscox Office Insurance
Instant Online Quotation

Free Day-to-Day Banking
Abbey - 0800 085 3099

Barclays Business
Banking for Start-ups

Sole Trader Accounts
Just £30+VAT/month

Warehouse & Distribution
Solutions from Royal Mail